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Write benefactor calculated

all right everybody welcome to uh this training and today i am going to be sharing with you this tax strategy which is called daf donor advice fund right and this is really a tool that you can use when you're making charitable donations right if you're on the giving side you give it a little bit or a lot every year it doesn't matter but if you know about this thing then this tax strategy and this tool that you can use to help yourself reduce on taxes and we're going to talk about tax strategies but really what is a donor advice fund right and from now on we're just going to probably refer to it as a daf but donor advice fund is basically think of it this way it is like a checking account for yourself that you can contribute to and get an immediate tax deduction for charitable donations right a donor advice fund is basically your own account that you can manage by you contributing money to give to charitable organization so for example let's say you usually give 5 000 years to charities but you need to get a big tax break this year and break down your tax bracket you can open up a daf donor advice fund put a fifty thousand dollars and get an immediate deduction that same year that is what donor advice fund is you're a donor and you advise what the funds what the money can go to and the money can go into any 541 approved 501c3 charitable organization 541c3 is a status given by the irs to either church or synagogue or a non-profit organization to be able to receive charitable donations and so that you can get a write-off for that okay so that really is what donor advice fund is now donor advice fund and we're just gonna talk about what it is uh yep cool okay awesome so donor advice fun one thing i forgot to mention is that any money that you put in actually can go that grow their tax-free right so if you put in five thousand dollars three years later it's eight thousand dollars you get to donate the entire eight thousand dollars the three thousand dollars that was earned there is tax free okay it's very easy to set up donor advice funds in fact they have been increasing lately the popularity of donor advice funds have been increasing as well and you can set up with any financial institution institutions such as fidelity or charles schwab or any other private financial institution the fees to set it up are very minimal right and you have to kind of shop around see who provides better fees they do charge you management fees but it's easy to set it up like i said it's a checking account that you set up that you can now use to put the money in and that money can be used to...